Life Hack: Digitizing Tax Season
It’s April and some of us may be taking this weekend scrambling to file our taxes online, but hopefully most of us can breath a small sigh of relief in knowing that well, it’s time to start the process again for next year.
Now I’m sure you’ve already started gathering your most essential receipts to save — medical expenses, child care expenses, any unreimbursed work-related expenses, self-employment expenses, charitable donations, educational expenses, and state and local income taxes. And perhaps some unconventional ones like the Russian beard tax, English window tax, or English tax on hats (well, those ones aren’t around anymore, but if they were!). So when you think about a years’ worth of those receipts, it becomes a pretty big box to keep around (and keep organized)!
Luckily, there’s a better way to stay on top of things. Even though the IRS began accepting scanned receipts as early as 1997, the digital receipts trend has only recently gained popularity among tax-filers. The one exception to this being my Grandmother, who insists on having a paper copy of everything, and who’s to argue? She’s 88 and this convoluted system works for her! But for those of us living in this century, digital receipts are a way to not only stay organized, but rid ourselves of paper waste.
Nowadays, filers can find comfort in knowing the arduous process has become much more streamlined and simplified, with taxes being filed on the Internet through software providers like H&R Block or TurboTax more and more frequently. In 2013 alone, 83% of all taxes were filed online. People are increasingly taking it upon themselves to file their own taxes rather than going through an accountant or tax preparer. To put this into perspective, “How to” tax video searches on YouTube are up 254% since 2011 and mobile tax searches are up 80% since 2012.
Now, of course, with us being a technology company that believes in the sacred power of the digital receipt, we are simply loving the rising trend towards digitizing all different kinds of transactions. And whenever your tax deductible transaction comes from a participating Spendgo location, you know you’ll have that digital receipt ready to go!